08
Apr
Apr
TRUMP ADMINISTRATION TO IMPOSE 104% TARIFFS ON ALL CHINESE IMPORTS AS TRADE WAR INTENSIFIES
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CapitalTimesNews / 2 days
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- 3 min read
The Trump administration announced plans to impose sweeping 104% tariffs on all Chinese imports starting Wednesday, escalating a rapidly worsening trade conflict between the world’s two largest economies. White House Press Secretary Karoline Leavitt revealed the decision Tuesday, framing it as a response to China’s refusal to withdraw retaliatory measures targeting U.S. goods. The move follows an initial 34% tariff hike set to take effect Wednesday as part of President Donald Trump’s “reciprocal” trade package. The administration added another 50% duty after Beijing defied a noon Tuesday deadline to abandon its own planned 34% tariffs on U.S. exports, resulting in a cumulative 84% increase layered atop existing tariffs from before Trump’s second term. China’s Commerce Ministry condemned the escalation, calling the additional 50% tariffs “a mistake upon a mistake” and vowing to amplify its retaliation. “We firmly oppose this unilateral, protectionist move,” a ministry spokesperson said, warning of “resolute measures to safeguard China’s legitimate rights and interests.” U.S. stock markets, which had surged earlier Tuesday, retreated following Leavitt’s announcement. The Nasdaq and S&P 500 slipped into negative territory by mid-afternoon, while the Dow Jones Industrial Average clung to modest gains. Leavitt defended the tariffs as a necessary response to China’s trade practices, stating, “Countries like China, who have chosen to retaliate and try to double down on their mistreatment of American workers, are making a mistake. President Trump has a spine of steel, and he will not break.” She added that while China “wants to make a deal,” it “doesn’t know how to do it,” though she declined to specify potential terms for reducing tariffs. The measures risk severe economic fallout. China supplied $439 billion in goods to the U.S. last year, making it America’s second-largest import partner, while the U.S. exported $144 billion to China. Analysts warn the tit-for-tat duties could disrupt supply chains, raise consumer prices, and trigger job losses in both nations. Dozens of other countries and the European Union also face new U.S. tariffs ranging from 11% to 50%, with deadlines set for midnight Tuesday. Leavitt confirmed Trump remains committed to implementing the levies despite diplomatic appeals, though she noted the president instructed his trade team to craft “tailor-made deals” for nations seeking negotiations. “He expects these tariffs are going to go into effect,” Leavitt said, emphasizing there would be no “off-the-rack deals” for trading partners. The announcement marks Trump’s latest expansion of tariffs initially introduced in February, when he imposed a 10% across-the-board duty on Chinese goods—later doubled—citing China’s alleged role in facilitating illegal immigration and fentanyl trafficking.